Computation of Earned Discount. (a) Yield shall accrue on the outstanding Capital on each day during any Settlement Period at the applicable Yield Rate. On each Settlement Date, the Seller shall pay from Collections in accordance with Section 3.1 to the Administrator, for the account of the Purchasers in accordance with their respective Pro Rata Shares, an amount equal to the accrued and unpaid Yield with respect to the immediately preceding Settlement Period.
Appears in 4 contracts
Samples: Receivables Purchase Agreement (Land O Lakes Inc), Receivables Purchase Agreement (Land O Lakes Inc), Receivables Purchase Agreement (Land O Lakes Inc)
